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Enabling Global Price Comparison through Semantic Integration of Web Data

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  • Zhu, Hongwei
  • Siegel, Michael
  • Madnick, Stuart
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    Abstract

    €ܓell GloballyÂ€Ý and €ܓhop GloballyÂ€Ý have been seen as a potential benefit of web-enabled electronic business. One important step toward realizing this benefit is to know how things are selling in various parts of the world. A global price comparison service would address this need. But there have not been many such services. In this paper, we use a case study of global price dispersion to illustrate the need and the value of a global price comparison service. Then we identify and discuss several technology challenges, including semantic heterogeneity, in providing a global price comparison service. We propose a mediation architecture to address the semantic heterogeneity problem, and demonstrate the feasibility of the proposed architecture by implementing a prototype that enables global price comparison using data from web sources in several countries.

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    File URL: http://hdl.handle.net/1721.1/40084
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    Bibliographic Info

    Paper provided by Massachusetts Institute of Technology (MIT), Sloan School of Management in its series Working papers with number 40084.

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    Date of creation: 11 Jan 2008
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    Handle: RePEc:mit:sloanp:40084

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    Postal: MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT), SLOAN SCHOOL OF MANAGEMENT, 50 MEMORIAL DRIVE CAMBRIDGE MASSACHUSETTS 02142 USA
    Phone: 617-253-2659
    Web page: http://mitsloan.mit.edu/
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    Postal: MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT), SLOAN SCHOOL OF MANAGEMENT, 50 MEMORIAL DRIVE CAMBRIDGE MASSACHUSETTS 02142 USA

    Related research

    Keywords: Global Price Comparison; Shopbots; Context; Semantic Data Integration; Semantic Heterogeneity;

    This paper has been announced in the following NEP Reports:

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    1. Michael Smith & Erik Brynjolfsson, 1999. "Frictionless Commerce? A Comparison of Internet and Conventional Retailers," Computing in Economics and Finance 1999 1022, Society for Computational Economics.
    2. Philipp Maier, 2005. "A `Global Village' without borders? International price differentials at eBay," DNB Working Papers 044, Netherlands Central Bank, Research Department.
    3. Clay, Karen & Krishnan, Ramayya & Wolff, Eric, 2001. "Prices and Price Dispersion on the Web: Evidence from the Online Book Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 49(4), pages 521-39, December.
    4. Madnick, Stuart & Siegel, Michael, 2002. "Seizing the Opportunity: Exploiting Web Aggregation," Working papers 4351-01, Massachusetts Institute of Technology (MIT), Sloan School of Management.
    5. Timothy Cogley & Riccardo Colacito & Thomas J. Sargent, 2005. "Benefits from U.S. monetary policy experimentation in the days of Samuelson and Solow and Lucas," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    6. Michael R. Baye & John Morgan & Patrick Scholten, 2004. "Price Dispersion in the Small and in the Large: Evidence from an Internet Price Comparison Site," Working Papers 2004-03, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
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